Emirates Telecommunications Group Company has agreed to take a 50.03% stake in a super app managed by Careem, Uber Technologies’ Middle East subsidiary, at a transaction cost of $400 million, e& said in a filing on Monday.

The ride-hailing business will be separated from the Careem Super App and will be fully owned by Uber, and the Careem Super App will be managed by Careem founders Mudassir Sheikha and Magnus Olsson, said the company, formerly known as Etisalat Group and now called e&.

Reuters reported last month that talks with e& were at an advanced stage and a deal could be announced soon.

Careem began seeking outside investors last year to help finance its Super App, which offers services outside its core ride-hailing business such as food delivery, bike rentals, digital payments, and courier services.

“We’re thrilled to have two extraordinary partners in e& and Uber, as we enter a new chapter in our mission to simplify and improve the lives of people. It’s a big moment for us, and a big moment for the region. We are filled with gratitude and so excited at the opportunity ahead,” Careem said in the statement.